Miller, Thomas W.; Rapach, David E. - In: Journal of Empirical Finance 24 (2013) C, pp. 10-23
We analyze the intra-week evolution of bookie-quoted National Football League betting lines in New York City and its implications for market efficiency. Our unique data set includes three sequential lines: (i) an outlaw line set by a single agent at the beginning of the week; (ii) Tuesday's...